Australian PM Holding Talks on Sub Purchase
Australia is holding talks with a number of countries on a contract to build replacements for Australia's aging submarine fleet, Prime Minister Tony Abbott said on Sunday at the G20 leaders Summit in Brisbane. Japan has been seen as the front-runner to sell Australia as many as 12 stealth submarines, but strong interest from manufacturers in Sweden, Germany and France and domestic political pressure has led to calls for his government to hold an open tender.
U.S. Navy Expect Decision on LCS Warship
Defense Secretary Chuck Hagel is expected to make a decision soon on how to make a new class of smaller warships more lethal and survivable, the Navy's top admiral said on Saturday. Chief of Naval Operations Admiral Jonathan Greenert expected a quick decision based on a recommendation submitted by the Navy, but gave no details. "The Secretary is very close to a decision," Greenert told Reuters in an interview at a defense conference at the Ronald Reagan Presidential Library.
G20 Communique to Include Climate Change, Anti-corruption Plan
The G20 communique will include a significant passage on climate change and an endorsement of an anti-corruption plan, European Union officials said on Sunday. "The most difficult discussion was on climate change," an EU official said on condition of anonymity. "This was really trench warfare, this was really step by step by step. The Australian government, which is hosting the G20 summit, had sought to keep climate change off the main agenda of the meeting to focus on strictly economic issues…
Merger Talks Feed Energy Sector Deal Speculation
Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. Competing service companies including National Oilwell Varco Inc and Weatherford International may also be targets, bankers and lawyers said. In any deal, the incentives will…
Hedge Funds' Big Bets on Energy Companies Pummeled
Some of the hedge fund industry's most respected firms made bigger bets on a wide swatch of energy companies during the third quarter only to watch the stocks get pummeled by falling crude oil prices.
Cenovus to Develop Telephone Lake Oil Sands
Cenovus Energy Inc , Canada's No.2 independent oil producer, said on Friday it has received regulatory approval for its Telephone Lake oil sands project, a facility that could eventually produce more than 300,000 barrels of oil per day. The company said the Alberta Energy Regulator and the provincial government approved the thermal oil sands project, which will pump steam into oil sands deposits to liquefy the tar-like bitumen so it can flow to the surface.
MAN Diesel & Turbo Bags Chinese Ferry Orders
MAN Diesel & Turbo has secured a contract for the supply of four 9L48/60CR engines for the diesel-mechanical propulsion of two passenger ferries for Chinese shipping companies, Huadong Ferry and Dadong Ferry. The two newbuildings are currently under construction at Huanghai Shipyard in Shangdong, China. Both vessels have a passenger capacity of 1,500 and are intended to connect South Korea with the Chinese mainland upon entering service.
Petrobras Clarification on Bribe Payment Allegation
The company established an Internal Investigation Commission on February 13, 2014, the same day it became aware of the news about the alleged payment of bribes by SBM to Petrobras employees. The Commission’s findings, disclosed on March 31, 2014, based on work done within its regulatory scope, were that it did not find any facts or documents proving any improper payments made to Petrobras employees.
MHI to Revamp its Casting Operations
Effective April 1, 2015 Mitsubishi Heavy Industries, Ltd. (MHI) will revamp its production structure for casting products. From that date all current Group casting operations will be consolidated at the company's Futami Plant, part of its Kobe Shipyard & Machinery Works, and the existing casting plants at the Hiroshima Machinery Works and Nagasaki Shipyard & Machinery Works (Mitsubishi Hitachi Power Systems, Ltd.'s Nagasaki Works) will be closed down.
Retailers Head North of England
A shortage of inland transport capacity and increased waiting times for lorries at ports in the south of England have brought an uplift in the volume of containers to the Port of Liverpool. Over the last 12 months Metro Shipping has transferred several high-profile retail customers from Felixstowe and Southampton to Liverpool to realise the benefit of reduced inland haulage costs, especially for goods coming from the Far East and US.